Lloyd's chairman Lord Levene called on the industry not to blindly pursue market share.
Lord Levene made these comments at the launch this week of the International Insurance Society's 2004 survey which indicated that "maintaining competitive pricing" and "productivity, efficiency and expense controls" were the lowest among executives six top concerns.
Speaking at the society's press conference Levene said: "I am not surprised by the findings of the survey. It is important that the market does not take on business at any price.
"We do have a sanction process at Lloyd's if the business plans for syndicates are not sensible. And we would not hesitate to use them again."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
